SPI Energy Co Ltd Stock Forecast
High volatility in SPI Energy Co Ltd stock price on Tuesday which ended trading at $0.483
(Updated on Jun 18, 2024)
The SPI Energy Co Ltd stock price fell by -5.28% on the last day (Tuesday, 18th Jun 2024) from $0.510 to $0.483. During the last trading day the stock fluctuated 15.86% from a day low at $0.465 to a day high of $0.539. The price has fallen in 7 of the last 10 days and is down by -16.36% for this period. Volume has increased on the last day by 109 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 162 thousand shares were bought and sold for approximately $78.01 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.465 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.06% during the next 3 months and, with a 90% probability hold a price between $0.446 and $0.625 at the end of this 3-month period.
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SPI Signals & Forecast
There are few to no technical positive signals at the moment. The SPI Energy Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.514 and $0.549. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -26.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). SPI Energy Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SPI Energy Co Ltd stock
SPI Energy Co Ltd finds support from accumulated volume at $0.480 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0738 between high and low, or 15.86%. For the last week, the stock has had daily average volatility of 8.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPI) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect SPI Energy Co Ltd to open at $0.496, and during the day (based on 14 day Average True Range), to move between $0.439 and $0.527, which gives a possible trading interval of +/-$0.0438 (+/-9.06%) up or down from last closing price. If SPI Energy Co Ltd takes out the full calculated possible swing range there will be an estimated 18.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.480 (0.66%) than the resistance at $0.519 (7.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SPI Energy Co Ltd will release earnings BMO on Monday, June 24, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for SPI Energy Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.05% in the first trading day after earnings release.
Is SPI Energy Co Ltd stock A Buy?
SPI Energy Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.284 Sell Candidate Unchanged
Predicted Opening Price for SPI Energy Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.496 ( 2.64%) | $0.483 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.570 | 17.92% |
| R2 | 0.541 | 12.08% |
| R1 | 0.524 | 8.47% |
| Price | 0.483 | |
| S1 | 0.468 | -3.20% |
| S2 | 0.450 | -6.81% |
| S3 | 0.422 | -12.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.565 | 17.00% |
| R2 | 0.525 | 8.70% |
| R1 | 0.519 | 7.45% |
| Price | 0.483 | |
| S1 | 0.480 | -0.663% |
| S2 | 0.479 | -0.766% |
| S3 | 0 | - |
FAQ
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